The first edition of Countdown to Solvency II, the PricewaterhouseCoopers publication examining the latest developments in the planned reform of prudential regulation for European insurers.
Solvency II aims to map the regulatory capital requirements of each company against its individual risk profile. This will encourage, if not require, companies to enhance risk management, upgrade information systems and embed risk awareness more closely into the strategy and operations of their business. While it presents a significant implementation challenge, the move to Solvency II could also provide an opportunity to develop a more informed and forward-looking basis for decision-making.
Implementation is some way off, but some of the most critical decisions are likely to be taken over the next few months. We believe that it is important that insurers develop a clear understanding of how Solvency II could affect their company and, drawing on this appraisal, contribute to the coming round of consultations.
We hope that this and future publications provide insights that can help enhance this understanding and assist insurers in preparing for the changes ahead. The subjects covered are based on feedback from our clients.
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